Retirement Systems of Alabama Sells 8,056 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Retirement Systems of Alabama cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,478 shares of the biotechnology company’s stock after selling 8,056 shares during the period. Retirement Systems of Alabama owned about 0.13% of Exelixis worth $9,344,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Exelixis in the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new stake in Exelixis in the fourth quarter valued at $27,000. Fifth Third Bancorp grew its position in Exelixis by 44.2% in the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 604 shares during the period. Signaturefd LLC grew its position in Exelixis by 17.1% in the third quarter. Signaturefd LLC now owns 4,577 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 668 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Exelixis in the third quarter valued at $100,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Trading Up 0.9 %

NASDAQ:EXEL opened at $22.12 on Friday. Exelixis, Inc. has a 1-year low of $18.52 and a 1-year high of $24.34. The business’s 50-day moving average price is $22.94 and its two-hundred day moving average price is $22.22. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 0.61 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.62%. The company had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. During the same period in the previous year, the company posted $0.12 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Exelixis, Inc. will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EXEL shares. Royal Bank of Canada boosted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their price objective on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Barclays lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research note on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, April 10th. Finally, TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.33.

Insiders Place Their Bets

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David Edward Johnson acquired 190,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the acquisition, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. Corporate insiders own 2.85% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.